Principal to Acquire Majority Hold in Origin Asset Management

Origin is a global equity specialist based in London. The
acquisition is expected to expand The Principal’s global equity
investment capabilities; excluding transaction and integration costs.
Principal Financial Group estimates the acquisition will be EPS neutral
in 2011 and slightly accretive in 2012.

Origin partners will retain a
26% stake in the business and will be reinvesting a substantial share
of their consideration into funds managed by the firm. All passive
investors in Origin will sell their entire holdings to
The Principal.

The transaction is expected to close in October 2011, pending regulatory approval.

This is the third acquisition announced this year as part
of Principal Financial Group’s 2011 capital deployment strategy. The
Principal’s Board of Directors also renewed authorization to repurchase
up to $250 million of the company’s outstanding common stock in May.

“We are delighted to be entering into this partnership,”
said Jim McCaughan, chief executive officer of Principal Global
Investors.“Origin’s proven capabilities in
managing global equities will be very attractive to our clients and
advisers around the world.”